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Most people join trading forex because they want to make more money when they
have free time so you will have a little time to monitor trades but it does not mean that they can not make
plenty of money trading forex.
Solutions? Please have a cup of coffee or tea and spend your time read on
Forex market is not as easy as it looks, when you are already in it, you must be aware about it, because
you are playing with your own money. Almost newbie like you like to start trading with the 5 minute or
15 minute charts, because you are so eager to take the money in the Forex market, me too, I was there too.
Make it clear first before we any further, if you are not familiar with Forex market, and cannot make
consistent money on the daily charts then you are not able to do it on with a little time in your hand.
As in the report there is 95% of traders are lost their money when doing trading with lower time frame. If
you don’ t want to be in 95% of traders I have mentioned above you should stay focus with high attention
on the daily charts, check them every evening and plan your trades for the coming week.
Do you think most of traders just spend few minutes with 5 minute charts to achieve their successful? No,
they have good knowledge, planning carefully, focusing and taking their trades based on daily charts.
All you need to do is chose several of your favorite pairs to trade, limit yourself to only one good trade a
week, this means your trade need to be planed and have good technical reasons for the price to go in your
favor. Keep your charts clean and simple, use support and resistance with the price action for setups.
Never risk more than 3% of your account on any one trade no matter what the stop size is. It doesn’ t
care how small your account is, brokers now can offer you to get your position size correct.
If you have two really good setups in one week and you don’ t know which one to take just take both
them but use half of your normal risk per trade on each.
If you do what I have outlined I guarantee you will see an improvement in you trading results it is not
difficult to increase your trading account by 10-15% each month while only taking 1 trade a week.
Trading the daily charts of many pairs can be easily done while having a fill time day job, I do it and you
can too, you just have to be willing to put in a little extra hard work on planning your trades when you
come home.
I hope this helps you on your way to consistent profits from the forex market.
23 Oct 10 Make money anytime with Forex trading.pdf
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